Q4 2023 Global Private Capital Performance Summary

The Q4 2023 Global Private Capital Performance Summary is now available.

Powered by our Universe Data, the Global Private Capital Performance Summary provides up-to-date insight into private assets performance, based on since inception quarterly returns and cash flow data for over 13,400 private capital funds and funds of funds, with a capitalization exceeding $11 trillion¹.

Highlights:

• Senior-debt funds registered the highest annual return of the major private-asset classes in 2023, with mezzanine-debt funds posting the second-highest return.
• On a quarterly basis in Q4 2023, venture capital reversed a seven-quarter streak of declines, posting a 1.2% return. Venture-capital funds had dramatically outperformed all other asset classes during 2020 and 2021 but have since underperformed, with a cumulative return for the 16 quarters since 2019 now about tied with buyout funds.
• Newly raised funds continued to call capital while distributions from mature funds have been muted since 2022.
• Private-equity funds posted the highest quarterly distribution rate of 2023 during Q4 (10.8% annualized), but the full-year 2023 distribution rate of 9.5% was well below the 2015-19 average of 23.6% and even below 2022’s rate of 11.8%.

If you are a client, please contact us for the full version of this report.

To download your copy of the quarterly report, please click on the button below and submit the form.